Get Help with Debt Consolidation
Did you know that debt consolidation is just one of the many options for you to consider when seeking debt relief? We will review all your debt solutions – free of charge.
At Spergel we believe in providing solutions that go beyond debt consolidation. Our customized debt solutions will be explained to you in detail, including information on how other solutions work.
Our solutions go beyond debt consolidation because we want to give you every possible option to debt freedom. It is your decision to make, you choose the solution that makes the most sense for you. We review your budget for affordability, explain exactly how bankruptcy and consumer proposals work. Our Licensed Insolvency Trustees have 30 years of experience helping people just like you to discover how great debt freedom feels.
Allow us to explain debt consolidation and every option beyond it. We will help you make an informed choice.
What Makes Debt Consolidation Different From Bankruptcy?
Debt consolidation differs from bankruptcy because it is not a formal debt solution that provides legal protection from creditor actions such as wage garnishments.
To obtain a debt consolidation loan you must apply for it (typically at your bank). In addition, bankruptcy and consumer proposals are zero interest programs that will include all your debt. A debt consolidation loan will have interest and may not capture every debt you owe because it will be up to your lender’s discretion as to what should be included.
Discovering All of Your Options
Marcus was looking for a debt consolidation loan. He did not think he needed to file for bankruptcy, so he had avoided speaking with a Licensed Insolvency Trustee. He was going to sign on with his bank to consolidate 3 of his 5 debts for a reduced interest rate over the next 36 months.
However, the consolidation payment was too high, and he would have to give up his car to maintain it. He called a Trustee who laid out all his options and he chose a consumer proposal instead. This meant he could keep his car and could afford his repayment plan.
September 25, 2020
I just did counselling with Ma'am Perveen Katila and she is very accomodating, helpful and gives a lot of useful advices on how to properly manage finances. Overall has an...More
September 23, 2020
Dealing with serious financial issues is embarrassing, confusing, stressful, and brings a lot of shame. It did for me anyway. The team at Spergel got me through one of the...More
September 20, 2020
My counselor was very friendly every time. They were able to help me with any questions I had and am glad to be almost payed off for my proposalMore
September 18, 2020
Perveen is fantastic! She has a lot of great information and resources to share, which helped keep me on track even through COVID 19. Thank you Perveen for all your help and...More
September 17, 2020
Perveen was a great help. She was understanding and always had a positive mindset on the plans moving forward. Never once made me feel any shame of the financial position I was...More
September 17, 2020
What an amazing experience being able to have a heavy load taken off my shoulders.Everyone was respectful and understanding and explained step by step.. I am on my way to being...More
September 16, 2020
Very kind people, very helpful and informative.More
September 16, 2020
we are very happy with your service. I will be very happy to refer you to friends with debt problems.More
Frequently Asked Questions
Is a debt consolidation loan my only option?
We can review how a debt consolidation loan might look for you and provide alternative solutions to help you become debt free. If you are looking for a debt consolidation loan, find out how much debt you can include and how much it will cost. If you want to review other financial tools outside of debt consolidation, contact us today. You owe it to yourself.
Will debt consolidation clear up all of my debt?
Your lender will review your debt to see what can be included in a debt consolidation loan. In some cases, certain types of debt will not be included (such as a student loan or income tax debt), in other cases debts may be left off because it exceeds the approved loan amount to include them. Review your other options to becoming debt-free with a Licensed Insolvency Trustee so see what will work best for you.
Debt Help Learning Centre
If you’re just starting to explore your options, visit our learning centre to learn from our articles and resources to start on your path to debt freedom, and when you’re ready, our trustees are always available to listen.